Finance and innovation

From the Institute for New Economic Thinking — William Lazonick – How Government Helps, and Wall Street Hurts, the Innovative Enterprise. A great discussion of how innovation is about overcoming technological, market and competitive uncertainty — and how the financial system doesn’t necessarily help to deal with these risks. And on the importance of understanding history and organizations to understand economics.
Lazonick is heading up a project on Financial Institutions for Innovation and Development and heads the U Mass Center for Industrial Competitivenes

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